Grew that global economic growth was slowing
Economic Growth
Corporate bond and stock markets dropped in September as concern grew that global economic growth was slowing. An index of high-risk, high-yield bonds fell last month by the most since June 2013. The S&P 500 had its biggest decline since April yesterday after European Central Bank President Mario Draghi said there are signs the recovery is losing momentum.
After peaking on Sept. 18, the S&P 500 has slid 4.1 percent, and a measure of volatility has soared 56 percent, helping to send several firms that were either flat for the year or that had gains into the red.
Paulson & Co., the $22 billion New York-based firm, was ahead in most of his strategies for the first half of this year.
In July, his hedge funds made almost $1 billion on his investment in OneWest Bank. In August, the funds posted mixed returns as two proposed mergers unraveled, hurting the stocks of Sprint Corp. and T-Mobile US Inc.